Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Average Recommendation of “Hold” from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.3571.

A number of analysts have recently weighed in on RCKT shares. JPMorgan Chase & Co. lowered shares of Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Tuesday, November 18th. Morgan Stanley set a $5.00 price target on shares of Rocket Pharmaceuticals in a report on Thursday, January 8th. TD Cowen raised Rocket Pharmaceuticals to a “hold” rating in a research report on Friday, December 19th. Bank of America reduced their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Wedbush restated an “outperform” rating and issued a $16.00 target price on shares of Rocket Pharmaceuticals in a research note on Friday, November 7th.

Insider Activity at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 12,279 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,643.49. Following the completion of the transaction, the chief executive officer directly owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. The trade was a 1.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Martin Wilson sold 12,253 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,557.43. Following the completion of the transaction, the general counsel owned 683,376 shares of the company’s stock, valued at approximately $2,261,974.56. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,415 shares of company stock worth $97,398. Insiders own 24.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new position in shares of Rocket Pharmaceuticals in the second quarter worth about $25,000. Franklin Resources Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $38,000. Sequoia Financial Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $42,000. CANADA LIFE ASSURANCE Co raised its holdings in Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares during the period. Finally, Virtu Financial LLC acquired a new position in Rocket Pharmaceuticals in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Up 4.6%

Rocket Pharmaceuticals stock opened at $4.53 on Friday. The stock has a 50-day moving average price of $3.58 and a 200 day moving average price of $3.43. The company has a market capitalization of $490.24 million, a price-to-earnings ratio of -2.01 and a beta of 0.48. Rocket Pharmaceuticals has a 52 week low of $2.19 and a 52 week high of $9.81. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. During the same quarter in the previous year, the business earned ($0.62) EPS. Sell-side analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.